Project Description

Our charitably inclined clients should be reminded that the special rule under IRC Sec 408(d)(8) allowing taxpayers over 70 ½ to contribute up to $100,000 from their IRA to a qualified charity without recognizing any income expires on December 31, 2013.  They should also be reminded that gifts of appreciated capital gain property can be used to obtain a deduction for the full value of the property, while avoiding the capital gain tax on the appreciation in value.  Read more…Year-end planning: Timing of charitable gifts, and type of property contributed, can be important